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OPTIMISATION METHODS
Techniques employed in various domains related to Industrial Engineering & Management
• Acknowledgements
• Introduction
• Problem Statement
• Advantages
• Limitations
• Applications
• MATLAB codes
• Conclusion
• References
• Optimization methods involve systematic approaches to finding the best possible solution from a
set of feasible options, considering multiple objectives, constraints, and trade-offs.
• They aim to improve efficiency, reduce costs, and enhance productivity across operational
domains.
• Optimization involves finding the best solution considering multiple objectives, constraints, and
trade-offs.
• Optimization and Industrial Engineering share the common goal of maximizing performance within
industrial and organizational settings.
• By leveraging optimization methods, Industrial Engineers can analyze complex systems, optimize
resource allocation, design efficient processes, and make data-driven decisions.
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• Complex factors like resource constraints and dynamic market demands make
optimization difficult.
1. Improved Efficiency: Optimization helps streamline processes, reducing waste and maximizing resource
utilization.
2. Cost Reduction: By optimizing various operations, costs associated with production, inventory, and
logistics can be minimized.
3. Enhanced Productivity: Optimization ensures better allocation of resources and scheduling, leading to
increased output within the same time frame.
4. Better Decision Making: Optimization provides data-driven insights, aiding in strategic decision-making
for resource allocation and capacity planning.
5. Increased Competitiveness: With optimized processes, companies can offer competitive pricing, meet
customer demands efficiently, and gain market advantage.
6. Sustainable Operations: Optimization can help reduce environmental impact by minimizing energy
consumption, waste generation, and carbon footprint.
7. Adaptability to Change: Optimization models can be adjusted to accommodate changes in market
demands, resource availability, or operational constraints.
8. Continuous Improvement: Optimization fosters a culture of continuous improvement by identifying
inefficiencies and implementing iterative enhancements.
1. Complexity: Some optimization problems may be too complex to model accurately, leading to
oversimplification or unrealistic assumptions.
2. Data Dependency: Optimization relies heavily on accurate and timely data, which may not always
be available or reliable.
3. Computational Intensity: Solving optimization problems computationally can be time-consuming
and resource-intensive, especially for large-scale systems.
4. Resistance to Change: Implementing optimized solutions may face resistance from stakeholders
accustomed to existing processes or hesitant to adopt new technologies.
5. Risk of Overfitting: Optimization models may perform well under specific conditions but fail to
generalize to different scenarios, leading to suboptimal outcomes.
6. Ethical Considerations: Optimization may prioritize certain objectives at the expense of others,
raising ethical concerns regarding fairness, equity, and social responsibility.
7. Lack of Human Judgment: Optimization methods may overlook qualitative factors or intangible
aspects that human judgment considers valuable.
8. Uncertainty and Variability: Optimization solutions may be sensitive to uncertainties in inputs,
market fluctuations, or unforeseen events, leading to suboptimal performance.
5. Example: Optimizing parameters of a neural network for a specific task by evolving a population of potential solutions over
multiple generations.
6. MATLAB Function: ga
o Example: Portfolio optimization, where the goal is to maximize returns while minimizing risk by selecting a combination of
assets.
o MATLAB Function: quadprog
6. Multiobjective Optimization:
o Objective: Optimize multiple conflicting objectives simultaneously.
o Example: Designing a product with competing goals, such as minimizing cost while maximizing performance and reliability.
o MATLAB Function: gamultiobj
A = [1 1 1;
-1 2 0;
0 1 -1];
b = [20; 2; 3];
lb = [0; 0; 0];
ub = [];
x0 = [0; 0];
A = [1 1 1;
-1 2 0;
0 1 -1];
nvars = 2;
lb = [0; 0];
ub = [];
[x, fval] = ga(fitnessFcn, nvars, [], [], [], [], lb, ub, [], options);
f = [-2; -6];
A = [1 1;
-1 2;
2 1];
b = [2; 2; 3];
• Multiobjective Optimization:
fun1 = @(x) x(1)^2 + x(2)^2;
• "Introduction to Operations Research" by Frederick S. Hillier and Gerald J. Lieberman - This classic textbook covers a wide
range of optimization techniques applicable to industrial engineering and management, including linear programming,
integer programming, and dynamic programming.
• "Applied Optimization with MATLAB Programming" by P. Venkataraman - Focuses on optimization techniques implemented
using MATLAB, with applications in engineering and management, including linear programming, nonlinear programming,
and evolutionary algorithms.
• "Optimization Models for Production Planning in Advanced Manufacturing Systems: A Review" by Andrea Matta, Marco
Sgarbossa, and Mauro Gamberi. (Published in the International Journal of Production Research) - Provides an overview of
optimization models and techniques used in production planning for advanced manufacturing systems.
• "Multi-objective optimization in engineering design: Current status and future opportunities" by C. Mavrotas. (Published in
Structural and Multidisciplinary Optimization) - Discusses multi-objective optimization techniques and their applications in
engineering design, including industrial engineering.
• "Recent developments in optimization methods for supply chain management" by Xiaolin Li and Frank Y. Chen. (Published
in Engineering Applications of Artificial Intelligence) - Reviews recent developments in optimization methods for supply
chain management, offering insights into their applicability in industrial engineering and management.
• "A review on applications of mathematical programming models in scheduling, routing and distribution of logistics and
transportation operations" by Fatma Gzara and Sana Belmokhtar. (Published in Computers & Industrial Engineering) -
Provides a comprehensive review of mathematical programming models applied in scheduling, routing, and distribution
optimization within logistics and transportation operations, with implications for industrial engineering and management.